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The relation between firm-level corporate governance and market value: A case study of India

  • Balasubramanian, N.
  • Black, Bernard S.
  • Khanna, Vikramaditya

Relatively little is known about the corporate governance practice of firms in emerging markets. We provide a detailed overview of the practices of publicly traded firms in India, and identify areas where governance practices are relatively strong or weak. We also find cross-sectional evidence of a positive relationship between firm market value and an overall governance index, as well as a subindex covering shareholder rights. The association is stronger for more profitable firms and firms with stronger growth opportunities.

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Article provided by Elsevier in its journal Emerging Markets Review.

Volume (Year): 11 (2010)
Issue (Month): 4 (December)
Pages: 319-340

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Handle: RePEc:eee:ememar:v:11:y:2010:i:4:p:319-340
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620356

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